I'll show a picture of the front of the Wall Street bull once the market recovers..........that will be years from now. R. Birch 2008

Monday, January 12, 2009

Depression Similiarities???

During the first Great Depression unemployment rose to almost 25% and the U3 is currently at 7.2%. U3 is the headline number that you always see reported the first Friday of every month. This number is non-farm payroll which is also greatly understating real unemployment which makes politicians look better than they are. John Williams at shadowstats.com reports government statistics and takes out all of the BS adjustments. At a minimum the US unemployment is approaching 14% and rising. In my opinion when history is written this period will be known as the second great depression/recession.

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About Me

Austrian School of Economics

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." -~~Ludwig Von Mises

Market Conditions

Barry Ritholtz

It is the markets’ job to reallocate money from the ignorant to the intelligent, from the lazy to the hard working and studious; from the naive to the educated, and from the speculator to the investor.